Will Air America Declare Bankruptcy?

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Air America will file for bankruptcy, as part of a restructuring, according to ThinkProgress, citing three un-named sources. Staff members have been laid off and no severence will be paid out, sources told the blog. And Jerry Springer won’t be around either, darn it. Air America responded with this:

If Air America had filed for bankruptcy every time someone rumored it to be doing so, we would have ceased to exist long ago; it may be frustrating to some that this hasn’t happened. No decision has been taken to make any filing of any kind, we are not sure of the source of these rumors and frankly can not respond to every rumor in the marketplace.

Radar must have its mojo back, as John Cook got Al Franken to admit that the progressive network has some cash flow issues, saying:

I haven’t been paid in a while. Like, there’s no cash flowing to me.

Stay tuned, as they say.